FONT-SIZE Plus   Neg

Aqua America Completes Sale Of Maine Operations To Connecticut Water Service

Aqua America, Inc. (WTR) announced that it has completed the sale of its Maine operations to Connecticut Water Service Inc. (CTWS) effective January 1, 2012, which includes 11 water systems serving 16,000 customers in 17 communities throughout Maine.

Connecticut Water purchased all of the capital stock of Aqua Maine, Inc. for an aggregate cash purchase price of approximately $35.8 million, plus the assumption of long-term debt that, as of December 31, 2010, was approximately $17.7 million, subject to certain closing adjustments.

Aqua America expects to book a gain on the transaction in the first quarter of 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. (AAPL) reported its third straight quarter of iPhone sales and revenue declines after the market closed on Tuesday. The tech giant's fourth-quarter profit trumped Wall Street expectations, while revenues fell short. Although, Apple reported its third straight year-over-year decline in iPhone... Buick, Lexus and Toyota are among the top brands with highest reliability rating in the latest annual brand reliability survey. A New York woman has filed a $20 million lawsuit against Kentucky Fried Chicken, accusing the fast-food giant of 'false and deceptive trade practice' and also of misleading customers as she did not get enough chicken in her $20 "Fill-Up."
comments powered by Disqus
Follow RTT